Are You Looking To Buy Or Sell A Car License Plate?

Let's say you are the proud owner of an auspicious bidded number plate. We're sure that there will not be a shortage of willing buyers vying for it too.

You've just been offered a good chunk of change to sell your registration plate. But where does one start? How do you go about transferring ownership of a license plate? As it turns out, there are several ways in which you can offload your number plate - we'll outline some of the more common methods in this article!

Option 1 - "Sell" The Car And License Plate To A Buyer

You can "sell" the car to a willing buyer, and have him transfer the ownership back to you after he/she has retained the number plate. This is technically the most affordable option of transferring ownership of a license plate, as as the buyer need only pay a one-time retention fee of $1,300.This is excluding the pre-agreed cost of the number plate itself obviously. Unfortunately, in the eyes of the LTA, this 'transaction' counts as 'ownership', and doing so will add two counts of it to the car, potentially putting some people off when it comes time to sell the vehicle.

Option 2 - Use Of Scrap Car For License Plate Retention

How do you reap the benefits of the first option sans the potential drawback for a lower vehicular resale value? Simple - you source for a 'sacrificial' car of sorts, one that is at the end of its life cycle. This car will then have the desired plate transferred to it.The vehicle is then transferred to the buyer of the number plate, where they'd then retain ownership of the desired number plate. Doing so will allow the plates to change hands, without adding an additional count of ownership to the seller's personal vehicle.

Buy And Sell Your Plates Without Hassle With Motorist!

If either option sounds like bother to you - Motorist has got your back, because we believe buying and selling your number plates should not be fraught with complexity. We will source for an end-of-life vehicle, have the ownership transferred to the seller of a number plate, and then also handle the handover of said car to the buyer.

Check out our Car Plate Marketplace if you're after some speciality plates, or get a valuation of your bidded plate by filling in the contact form with your name, contact number, and license plate number - one of our friendly sales staff will contact you soon!

Read More: Should I Use A Personal Loan Or A Car Loan To Purchase My Next Car?

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